                                 CODE OF VIRGINIA

PARTNER&#8217;S TRANSFERABLE INTEREST SUBJECT TO CHARGING ORDER (§ 50-73.46:1)

A. On application by a judgment creditor of a partner or of a partner&#8217;s
assignee, a court having jurisdiction may charge the transferable interest of
the judgment debtor to satisfy the judgment. To the extent so charged, the
judgment creditor has only the right to receive any distribution or
distributions to which the judgment debtor would otherwise have been entitled in
respect of the interest.

B. A charging order constitutes a lien on the judgment debtor&#8217;s
transferable interest in the limited partnership.

C. This chapter does not deprive a partner or a partner&#8217;s assignee of a
right under exemption laws with respect to the judgment debtor&#8217;s interest
in the limited partnership.

D. The entry of a charging order is the exclusive remedy by which a judgment
creditor of a partner or of a partner&#8217;s assignee may satisfy a judgment
out of the judgment debtor&#8217;s transferable interest in the limited
partnership.

E. No creditor of a partner or of a partner&#8217;s assignee shall have any
right to obtain possession of, or otherwise exercise legal or equitable remedies
with respect to, the property of the limited partnership.

HISTORY: 2004, c. 601; 2006, c. 912.